Based On The Balanced Scorecard Of T Insurance Co.Ltd Branch’s Strategic Evaluation Research

After thirty years of development, China’s insurance industry is becomingstandardized and mature, and has made remarkable achievements, but it also facesincreasing competition. After joining the WTO, it has to face the competitive pressureof international insurance companies. All of these bring in new challenges as well asopportunities. In order to be the winner in the competition, insurance companyparticularly, as the financial service industry, must improve management andstrengthen the sense of competition. In the performance evaluation aspects of businessmanagement, in addition to emphasis on financial results and, more attention shouldbe paid to the balanced development of each process and each unit within theenterprise.So for enterprise performance evaluation, we should not focus only onshort-term. We should establish strategic performance evaluation system based onstrategic index and vision, from long-term and broader perspective.This paper will draw on theoretical performance evaluation theory, the BalancedScorecard theory and application of research results at home and abroad. It willanalysis the current concepts and methods of performance evaluation in practice, andpointed out that the strategic performance evaluation will be the development andimprovement of the traditional performance evaluation as theoretic conclusion. TheBalanced Scorecard,as one of the important strategic performance evaluationmethods will also be more widely used in practice.BSC(the Balanced Scorecard) emerged in the1990s is a new milestone in thehistory of the performance evaluation. The Strategic Performance Evaluation whichbased on the Balanced Scorecard is strategy-oriented. It includes the traditionalfinancial index,besides,it introduces more dimensions of evaluation. It combines thefinancial an non-financial index to form a comprehensive system contains fourevaluation dimension which includes financial, customer, internal business processes,and learning and growth.It converts the strategy to implement through the formula of“target-index” and helps every staff understands the corporate strategy. This strategysystem continues to adhere to the strategic orientation and reflects the integration of“environment-strategy-behavior-process-results”.This article takes the T Insurance Co. Ltd Hunan Branch as example and analysisits evaluation system. Based on the Balanced Scorecard theory, this company is believed to have problems on index system and it has weakness on execution of itsevaluation regulations. This paper suggests that in order to solve the problemsmentioned above, the Balanced Scorecard system can be introduced into this companyto establish a strategic evaluation system. This article is supposed to provide somepossible solutions to improve evaluation and management level.